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Banks are in a strong position to offer gamification. Banking is contemporaneously a very important yet very difficult task for many people. By using the most ancient form of learning, fun, to attract and engage customers, banks can help overcome customers’ inherent disinterest in the subject and guide them through the financial maze.
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BANKING GAMIFICATION
Make mobile money fun and rewarding to drive
• activity• revenue
• CEO Colin Weir: Global banking start-up entrepreneurIn depth Financial Services Industry experience
• Focus on banking and payments• Extensive Retail Banking Gamification project experience
• Design apps• Build apps• Integrate and deploy securely• Selected by Misys as their gamification OEM
• Cloud based service on Salesforce for rapid and large scale deployment• Global coverage
Overview• Combines the best marketing, motivational psychology and gaming
strategies to drive consumer engagement• Analysts and big brands all concur • Perfect for banking where we are introducing new or complex ideas that
lack volition and faculty• Moroku is a specialist banking gamification provider• Goal: To be 10% as fun and as engaging as the best video games!
"A child's greatest achievements are possible in play, achievements that tomorrow will become her basic level of real action." Lev Vygotsky (1896-1934)
What sort of things are Fun?• Winning• Problem Solving• Exploring• Chilling• Teamwork• Recognition• Triumphing• Collecting• Surprise• Imagination• Sharing• Role Playing• Customisation• Goofing Off
Self Actualisation
Self Esteem
Social Desire
Safety
Physiology
Take time to really investigate your customers needs
Stimulus
Behaviour
Consequence
Learning
Social Media
• Facebook, Instagram, LinkedIn et al have become enormously successful
• Why?– Maslow– Dehumanisation of CX
Gamifi cati on is ..
• Application of game theory to applications• NOT making games • IS embedding game design • Purpose: Get more customers to do more and encourage their friends to join • Capacity to teach and overcome fear• An ongoing strategy• Engagement, loyalty and branding. • Uses
• Game Design - What’s the journey?, What are the rules? Where is the fun? • Game Mechanics - Points, badges, prizes, rewards, etc.
Principle Description Mechanic DescriptionOn-boarding
Guiding people through the registration process
Points Activities accrue points
Progress Reminding players of their progress towards goals
Badges Milestones rewarded with badges
Present Bias
Providing immediate reward for activities that otherwise reward in the future
Leader-boards
Points position players on a list
Mastery
Provide real financial skills not just conceptual or virtual
Quizzes Questions build and test skill
Balance
The right balance of skill required to play the game
Surprise Random behaviour rewards of points
Surprise Keep people engaged by surprising them
Countdown Proving the time left till an event
Analysts
IND 70% of bankers feel gamification could be appropriate within online banking system – IND Group
Gartner 70% of the Global 2000 will have at least one gamified application by 2014
Mind Commerce Gamification ranked 4th in Top Digital Marketing Trends for 2012
Ovum Bankers now have new ways to increase relevance of its products and services, engage customers and improve sales.
Reuters Gamification represents a promising strategy for brands to increase customer activity, build loyalty, broaden reach and monetize assets
A word on rewards• This is not Pointsification• Nor is it another rewards or raffle program – there are plenty of those
“Your chance to Win”• External rewards wear off• Its about
• Savings and lending's. We must remember this. It is the primary reward!
• But those results are in the future . To close the Present Bias we use• Feedback• Recognition• Competition• Connection• etc
A compelling business case for banking
• Make “Fun to Use” your Design Mantra• Embed core KPIs in the application and game
design• Reduce risk by educating people on how the product
works and motivating them to participate• Capture share with fun and social contribution at the
heart of the brand• Increase transaction rates to drive overall revenue• Improve average balance revenue
Value
Transact
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Risk